“I know that I am leaving the winning side for the losing side,” Soviet spy-turned-anti-communist hero Whittaker Chambers famously declared, “but it is better to die on the losing side than to live under communism.” The kind of communism to which Chambers was referring is not quite what threatens the free world today. The Soviet…
Disney Stock Tumbles Amid Fallout From Florida Controversy
Disney stocks have tumbled so far in 2022 as the company waded into Florida’s political arena while Republicans in the state voted to revoke the firm’s self-governing status in the central portion of the state. The stock hit all-time highs in March 2021, trading at $200 per share. But since then, it’s dropped more than a…
Verizon Shares Drop After Q1 Earnings, Weaker Than Expected Outlook
Verizon Communications Inc. reported a first-quarter FY22 sales growth of 2.1 percent year-on-year, to $33.6 billion, beating the consensus of $33.5 billion. Adjusted EPS of $1.35 was in-line with the consensus. Total wireless service revenue was $18.3 billion, up 9.5 percent Y/Y, reflecting the first full quarter of TracFone ownership. Service and other revenue were down 2.5…
Monetarism Disguises Primacy of Energy
Commentary “Fundamentally, debt is a claim on future money but, since money is itself a claim on the real economy, and hence on energy, debt really amounts to a claim on the energy economy of the future.… Energy returns have been declining for a long time, and I believe that growth in the real economy…
Housing: Poised for Trouble
Commentary For the moment, residential real estate seems to vibrate between powerful positive and negative forces. Their interplay will likely produce an uneven picture for the next few months. But in the fullness of time—say, late this year and certainly by 2023—the negative influences will predominate. The sector will suffer a correction, nothing like 2008…
Israel Is Mistaken About China
April 22, 2022
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Business & EconomyBusiness ColumnistsChinaGlobal ExpansionInternational RelationsIsraelOpinionSpecial TopicsThinking About Chinayuan
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News Analysis Israel is America’s longtime friend and ally. We have been through a lot together. And Israel is a rare democracy in the Middle East. So when Israel’s central bank recently made plans to downgrade the U.S. dollar in its reserves and introduce China’s yuan, it really hurt. Friends should not do this to…
Russia Faces Risk of ‘Orchestrated’ Default on State Debt: VTB CEO
Russia may face an “orchestrated” default on state debt due to Western sanctions which should not be seen as a technical default, the CEO of Russia’s second-largest lender VTB Andrey Kostin said in TV interview released on Friday. As Russia teeters on the brink of a historic default, foreign investors in the country’s debt have…
If We Ride the Cantillon Wave, We Should Remember That We’ll Crash With It Too
Commentary My daughter sometimes surfs the bore wave that heralds the incoming tide at Turnagain Arm, Alaska. The wave, or waves, to be exact, can reach a height of 10 feet, but are usually smaller. Regardless of the size, the waves draw surfers from all over, each looking for the rush of riding a crest,…
Russia’s Billion Dollar Crypto Market Targeted by US for Evading Sanctions
Russia’s billion dollar crypto market is facing new scrutiny from the West in response to Moscow’s invasion of Ukraine amid warnings that digital currencies are being used to help evade economic sanctions. The U.S. Department of the Treasury on April 20 announced the names of entities and individuals in Russia that it says have been involved in attempts to evade sanctions…
House Republicans Tell Twitter’s Board to Preserve All Records About Musk’s Bid to Buy Company
All Republicans on the House Judiciary Committee on April 22 ordered Twitter board members to preserve all records regarding Elon Musk’s effort to buy the technology company. “As Congress continues to examine Big Tech and how to best protect Americans’ free speech rights, this letter serves as a formal request that you preserve all records…
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